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Suppose that you buy $ 7 , 0 0 0 worth of shares of a mutual fund that has the following characteristics: NAV $ 5
Suppose that you buy $ worth of shares of a mutual fund that has the following characteristics:
NAV $
Total Assets $
Shares Outstanding
Invest $
A How many shares do you purchase?
You purchase
shares Round your answer to decimal places.
B What is the new NAV and total assets of the fund?
The total assets of the fund is now $
and the new NAV is $
Round your answer to decimal places. Do not round intermediate calculations.
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